Wedbush reiterated their buy rating on shares of Imax (NYSE:IMAX) in a research note published on Tuesday, AnalystRatings.com reports. Wedbush currently has a $28.00 price objective on the stock. Wedbush also issued estimates for Imax’s Q2 2019 earnings at $0.22 EPS, Q4 2019 earnings at $0.33 EPS, FY2019 earnings at $0.84 EPS, Q1 2020 earnings at $0.17 EPS, Q2 2020 earnings at $0.27 EPS, Q4 2020 earnings at $0.30 EPS and FY2020 earnings at $0.88 EPS.
A number of other brokerages have also recently issued reports on IMAX. B. Riley set a $18.00 price objective on shares of TiVo and gave the company a buy rating in a research note on Friday, July 12th. Zacks Investment Research cut shares of EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. TheStreet cut shares of ZovioInc . from a c- rating to a d rating in a research note on Thursday, May 23rd. MKM Partners boosted their target price on shares of Imax to $28.00 and gave the stock a buy rating in a research note on Friday, April 12th. Finally, ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $27.17.
Shares of NYSE:IMAX opened at $20.37 on Tuesday. The company has a 50 day moving average price of $20.26. The company has a market capitalization of $1.25 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. Imax has a 1 year low of $17.55 and a 1 year high of $26.10.
In other Imax news, Director Darren D. Throop sold 3,301 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $20.21, for a total transaction of $66,713.21. Following the sale, the director now owns 8,341 shares of the company’s stock, valued at $168,571.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Welton sold 15,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $24.83, for a total transaction of $372,450.00. Following the sale, the insider now directly owns 20,670 shares in the company, valued at approximately $513,236.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,975 shares of company stock worth $1,529,542. Insiders own 18.70% of the company’s stock.
Several institutional investors have recently modified their holdings of IMAX. First Trust Advisors LP acquired a new stake in Imax during the 4th quarter valued at approximately $417,000. Dimensional Fund Advisors LP grew its stake in Imax by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,719,609 shares of the company’s stock valued at $32,346,000 after purchasing an additional 85,783 shares in the last quarter. Geode Capital Management LLC grew its stake in Imax by 17.3% during the 4th quarter. Geode Capital Management LLC now owns 185,975 shares of the company’s stock valued at $3,498,000 after purchasing an additional 27,374 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new stake in Imax during the 4th quarter valued at approximately $218,000. Finally, Principal Financial Group Inc. grew its stake in Imax by 29.8% during the 4th quarter. Principal Financial Group Inc. now owns 10,367 shares of the company’s stock valued at $195,000 after purchasing an additional 2,379 shares in the last quarter. 77.61% of the stock is currently owned by institutional investors.
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company that specializes in motion picture technologies and presentations worldwide. It offers cinematic solution comprising proprietary software, theater architecture, and equipment. The company engages in Digital Re-Mastering (DMR) of films into the IMAX format for exhibition in the IMAX theater network; the provision of IMAX premium theater systems to exhibitor customers through sales, long-term leases, and joint revenue sharing arrangements; the distribution of documentary films; the provision of production technical support and film post-production services; the ownership and operation of IMAX theaters; and the provision of camera and other miscellaneous items rental services.
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